Buying is more affordable than renting in these 4 Colorado counties
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If you're looking for a home that's more affordable to buy than rent, consider broadening your search outside of the metro Denver area.
Why it matters: Even with home prices continuing to climb, the affordability gap is narrowing, which may signal the imminent end to what's been a steady run-up in home prices.
- In roughly 90% of the U.S., home prices are rising faster than wages.
Zoom in: Owning a median-priced home is more affordable than the average rent on a three-bedroom property in Fremont, Fort Morgan, Park and Pueblo counties, per data from a new report by ATTOM, a real estate database company.
The big picture: Here and nationwide it's cheaper to buy in rural areas and rent in cities and suburbs — particularly in the West and Northeastern parts of the country, where the least affordable homeownership markets are, Axios’ Jennifer Kingston reports.
This story first appeared in the Axios Denver newsletter, designed to help readers get smarter, faster on the most consequential news unfolding in their own backyard. Subscribe here.